94 
A Study of Student Loans and 
This fund, which is in a state Institution, was originally started in 
1874 and in 1905 was merged with other funds. The repayment of loans 
made previous to 1905 and since has enabled the loan fund to grow as 
the figures indicate. An experience of this kind should help to convince 
the most skeptical. It is evident that there is no more risk involved in 
Student loans than there is in commercial loans where as great care is taken 
in the selection of the risk and the funds are administered in a firm busi- 
ness-like manner. The figures represent a restricted fund, but the fact 
that it has been able to grow as it has proves that there is no reason why 
the principal could not have been loaned out to students as well. The 
Student has proved himself as reliable a risk as a person in commercial or 
industrial ventures and so deserves to have like confidence placed in him. 
Past Experience 
The experience of institutions in general has not been so encouraging 
as the individual case discussed above. However, many of the institu 
tions have been successful in the administration of their funds. The 
following Compilation, jointly prepared by the Harmon Foundation and 
the Student Loan Information Bureau, shows funds established, amount 
available, amount outstanding, and amount overdue in various institutions. 
Amount of 
Institutions 
Fund Fstabüslied 
Available 1923 
Outstanding 
Overdue 
Total 135 
$4.609,088 
$944,905 
$1,634,795 
$386,816 
1 
672 814 
84,821 
2 
454,390 
49,347 
130,094 
3 
345,394 
76,878 
268,515 
4.. 
290 000 
14,000 
5 
251,500 
13,900 
48,928 
18,386 
6 
206,876 
9,535 
70,231 
35,721 
7 
153,922 
8,697 
91,830 
8 
105,656 
16,644 
53,000 
5.000 
9 
101,000 
8,907 
6,482 
10 
100,000 
5,000 
11 
96)821 
18,423 
25,000 
12 
96,500 
10,000 
107,791 
78,773 
13 
88,165 
54,265 
26,815 
11,744 
14 
76,257 
53,565 
54,836 
10,689 
15 
68,165 
4,000 
16 
62,503 
5)700 
17,538 
17 
55,000 
5,897 
8,619 
1,924 
18 
54,500 
11,500 
7,369 
19 
52,524 
2,710 
25,027 
15,509 
20 
50,500 
6,332 
26,435 
21 
50,000 
6,500 
22 
50,000 
2,500 
23 
45,792 
29)320 
17,365 
24 
45,000 
2,400 
25 
45,000 
11)300 
8,699 
500 
26 
35,000 
1,800 
3,000 
27 
34,446 
1,722 
2,427 
957